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How the new southbound policy works Taiwan’s economic affairs ministry has opened investment offices in Indonesia, Myanmar, Thailand, Vietnam and the Philippines.Those offices are supposed to help Taiwanese investors find projects in those countries.Stronger ties with those nations, in theory, could reduce the influence of China in Taiwan. Under the policy, citizens of the Philippines are permitted to visit Taiwan without a visa for 14 days between November and July.Taiwan offered a similar visa waiver to citizens of Brunei and Thailand in August of 2016.These are the latest actions by Taiwan to expand business with other areas so it can become less dependent on China.
The island is also offering to suspend visa requirements for citizens of those nations.
The visa waivers make travel to Taiwan easier, helping to strengthen the economy.
Tsai said trade with the 18 countries had already risen 20 percent this year compared to 2016 levels.
Over the years, Taiwanese businesses chose China for investment because of its low costs, skilled workers and cultural ties.
The Council on Foreign Relations, an American research group, estimates that more than 93,000 Taiwanese businesses invested in China between 19.
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China claims sovereignty over the island, which operates under a system of democratic self-rule.